Help Me Better Understand the Benefits of Web 3.0/De-Fi
So full disclosure, I do have some positions in crypto and do think that it has some use cases for cutting out middlemen, processing transactions, etc., which is why I've invested in it. I'm now trying to get my arms around some of these newer technologies, namely Web 3, De-Fi, etc.
For example, with De-Fi, people tell me stuff like "you can be your own bank", but as someone in a first world country with mature financial markets, I'm not understanding why this is beneficial to me. Yes, it's annoying that financial intermediaries take a cut out of my transactions, but I'm willing to, for example, indirectly pay for credit card fees if it means said intermediaries assume some of the financial risk associated with fraudulent charges. Again, I totally get how De-Fi can be powerful for groups of people around the world that don't quite have this access to capital I do, but that's a fairly niche use case, right? Same with Peer-to-Peer lending. Yes, I'd get higher "returns" without an intermediary, but I'd also have to do a lot more diligence and be willing to put up with more capital losses if I choose to do this.
Similarly for Web 3, how does having an internet that's not controlled by large, centralized tech companies necessarily benefit me? Yeah, it's annoying that Facebook/Apple/Google all have access to my data and are selling it. However, they also have the best platform for messaging/search and need to monetize it these otherwise free services somehow in order to keep them running and providing value to me.
I probably don't understand this tech well enough so I'm looking for genuine discussion on both sides in order to better parse through what is hype and what are actual use cases that would cause this tech to continue to rapidly expand.